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It depends on the game.... if it is a game that sells based on hype, like GTAIV, then it would hurt sales a lot to be timed exclusive, sure it would have increased sales on the first platform, but by the time it released on the other console the hype would be gone and it would lose sales because of it.

Of course that might not mean much to the dev/publisher if the moneyhat is large enough to negate the loss.